...ITR Concession Company LLC, under a public-private transportation concession and lease agreement with the Indiana Finance Authority, will collect tolls and maintain the Indiana Toll Road for the concession's remaining life of about 64 years. The road is a 157-mile toll road that links the Chicago Skyway in the west to the Ohio Turnpike in the east. The route currently has 20 toll plazas and four travel plazas, with an additional four travel plazas to open by summer of 2018. The project will self-perform all maintenance and will rely solely on toll revenues to service debt and pay maintenance costs. In May 2015, IFM Global Infrastructure Fund (IFM) acquired the toll road, which had filed for Chapter 11 bankruptcy protection in September 2014. Subsequently, IFM sold a 15% equity interest in the project to U.S. pension fund CalPERS (10%), U.S. insurer Allstate (~2%), and an Australian superannuation fund for the construction industry, CBUS Super (~3%). The road consists of two distinct segments...
